Acquisition is expected to give Inpixon foothold in high growth mobile device security and location-based services markets
SANTA CLARA, CA – (Accesswire – January 6, 2014) – Inpixon Global Holdings Corp. (OTC: SYRX) (“Inpixon”), a developer of leading information technology solutions today announced that it has signed a definitive Agreement and Plan of Merger (“Merger Agreement”) to acquire Inpixon Corporation (“Inpixon”), a mobile location-based cybersecurity systems company. Based in Maple Lawn, Maryland, Inpixon has 4 U.S. and 11 foreign patent applications pending for its location, security and context awareness systems that can detect smartphones, tablets, laptops and other mobile devices. Upon the closing of the Merger Agreement, Inpixon will become a subsidiary of Inpixon and retain its management and operations.
Pursuant to the Merger Agreement, the Inpixon acquisition is to be completed no later than February 28, 2014. The closing of the acquisition is subject to a financing contingency. The acquisition would mark the third acquisition for Inpixon since the beginning of 2013 and is expected to further its move towards becoming an intellectual property based company providing technology solutions. In May, 2013 Inpixon acquired Lilien Systems, an IT infrastructure and solutions provider based in Larkspur, California. In August, 2013, Inpixon acquired Shoom, Inc., a developer of cloud-based data analytics and enterprise solutions.
“We expect the synergy between Inpixon and our other companies to strengthen Inpixon’s industry position as a technology developer and provider,” said Inpixon CEO, Nadir Ali. “We expect the addition of Inpixon to the Inpixon family to allow for the development of powerful solutions, integrating three of the highest growth sectors in technology—Big Data, cyber security and mobile computing—which would substantially augment our customer offerings,” he continued.
“We are excited about our agreement to join the Inpixon team and add our mobile and cybersecurity expertise to the Inpixon group of companies,” said Cleve Adams, CEO of Inpixon. “We plan to incorporate Inpixon’s Big Data capabilities into our mobile platform.” he added.
About Inpixon Global Holdings
Through focused, custom technology solutions, Inpixon provides cyber security, data analytics, custom application development, cloud solutions, Mobile/BYOD solutions and strategic outsourcing to government and commercial clients in major industries around the world. From identifying security risks to helping clients realize value from their Big Data strategies, Inpixon has the experience, technology, partners, and agility to be your Trusted IT Partner. Visit inpixon.com, follow @Inpixon and Like us on Facebook.
About Inpixon Corporation
Inpixon is a developer of mobile device identification and locationing systems. Its flagship product, ZoneDefense, is a security platform for wireless and cellular networks that can detect, monitor and manage the behavior of smartphones, tablets, laptops and other mobile devices based on their location. Headquartered near Washington, DC, Inpixon has regional offices in San Diego, California, Vancouver, Canada, Syndey, Australia and Sao Paulo Brazil. Inpixon customers include numerous government and military agencies and large enterprises around the globe. For more information on Inpixon Corporation and its products call 410-290-3446, email: email@example.com or visit http://www.airpatrolcorp.com.
This press release contains forward-looking statements, particularly as related to, among other things, the business and acquisition plans of Inpixon , statements relating to goals, plans and projections regarding Inpixon’s financial position and business strategy. The words or phrases “would be,” “will allow,” “intends to,” “may result,” “are expected to,” “will continue,” “anticipates,” “expects,” “estimate,” “project,” “indicate,” “could,” “potentially,” “should,” “believe,” “think,” “considers” or similar expressions are intended to identify “forward-looking statements.” Actual results could differ materially from those projected in the forward-looking statements as a result of a number of risks and uncertainties. Such forward-looking statements are based on current expectations, involve known and unknown risks, a reliance on third parties for information, transactions or orders that may be cancelled, and other factors that may cause our actual results, performance or achievements, or developments in our industry, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties related to the fluctuation of global economic conditions, the performance of management and our employees, our ability to obtain financing, competition, general economic conditions and other factors that are detailed in our periodic reports and documents that we post from time to time with the OTC Disclosure & News Service which are available for review at www.otcmarkets.com. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. Inpixon cautions readers not to place undue reliance on such statements. Inpixon does not undertake, and Inpixon specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences, developments, unanticipated events or circumstances after the date of such statement. Actual results may differ materially from Inpixon’s expectations and estimates. For more information, contact:
Inpixon Investor Relations Contact:
377 Oak Street
Garden City, NY 11530